Smith & Nephew FY18 Earnings Down, Revenue Up; Sees Growth In FY19 - Quick Facts

(RTTNews) - Medical technology business Smith & Nephew plc (SN.L, SNN) reported Thursday that its fiscal 2018 earnings per share dropped 13 percent to 76.0 US cents from last year's 87.8 US cents.

Adjusted earnings per share were 100.9 cents, compared to 94.5 cents a year ago.

Adjusted trading profit was $1.12 billion, up 7 percent from $1.05 billion a year ago. Trading profit margin was up 90bps to 22.9%, in line with guidance.

Operating profit dropped 8 percent to $863 million.

Revenue grew 3 percent to $4.90 billion from last year's $4.77 billion. Underlying revenue went up 2%.

In the fourth quarter, revenue edged up 1 percent from last year to $1.29 billion. Underlying revenue growth was 3 percent.

Further, the company announced a 3 percent increase in full-year dividend to 36.0 cents per share.

Looking ahead for fiscal 2019, the company said revenue is expected to increase around 1.8 percent to 2.8 percent on a reported basis and 2.5-3.5% underlying. Trading profit margin is expected in 22.8-23.2% range, a 40-80bps improvement excluding one-off 2018 legal gain.